Operating expenses and financing costs are always high on small multis because there are not many units to spread fixed costs around.2.

But there is a spread in there due to principle pay down.When someone is really motivated to sell (I've most commonly seen divorce, medical issues, job loss) they sometimes don't care how you buy because they "just want out." 

It is very hard to sell a 2/1 and you don't seem to have the large enough spread to flip it at 48K.

You can hypothecate the line of credit, and earning money on the spread. 

It is more expensive to flip in these areas but the profit is usually pretty good and you have more spread with which to play which can help if you delay or make a mistake.

I would spread the terms out to at least 5 years, but shoot for 10-15.

I think expanding past Indy would only spread the company too thin.If I wanted a 6-12 month play, I would just invest in a flipper for 12% +/- points, not invest in a REIT.

A $7,000 spread for a  wholesale deal is certainly worth doing. 

Some trees have a much deeper reach on their root system, while others are pretty shallow, but spread out laterally.

This is a great way to diversify risk - as spread across 10 properties, and then can do multiple portfolios, which I intend to do.